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Liquefied Natural Gas

Total raises cost overruns issue as it reduces Ichthys LNG stake by 4%

FRNCE’S Total has signed an agreement to divest a 4% interest in the Ichthys LNG project in Australia to operating partner INPEX for an overall consideration of US$1.6 billion. The transaction, which is subject to Australian regulatory approvals, reduces Total’s interest in the asset to 26%. “This transaction is part of our constant portfolio review to optimize our capital allocation,” said Arnaud Breuillac, President, Exploration & Production at Total. “Ichthys

South Korea’s EPIK signs on for Newcastle LNG import terminal project

SOUTH Korean company EPIK Co. Ltd has entered into a Project Development Option Agreement with the Port of Newcastle to commence preliminary works on a proposed LNG FSRU import terminal. EPIK is an LNG and floating storage and regasification unit (FSRU) project development specialist. The project, named “Newcastle LNG,” will be sited within the Port of Newcastle, optimally located to serve the New South Wales gas market where natural gas

Papua LNG JV signs agreement with PNG Government

IN a major milestone in the further development of Papua New Guinea’s LNG industry, the Total-led Papua LNG consortium has signed a Memorandum of Understanding (MOU) with the PNG Government. The Papua LNG JV is proposing to develop the massive Elk-Antelope gas discoveries to provide the base for a major expansion of PNG’s already highly successful PNG industry. Papua New Guinea’s own gas powerhouse, Oil Search Ltd (a member of

Australia set to assume title of world’s biggest exporter of LNG

AUSTRALIAN is on the cusp of taking out another globally significant title – this time as the world’s biggest exporter of Liquefied Natural Gas (LNG). With the milestone visit to Darwin tomorrow by Japanese Prime Minister, Shinzo Abe, for the official opening of the US$40 billion Ichthys LNG project, it is that Inpex-operated project that is set to drive Australia to the premier LNG export position. According to the latest

Leading oil and gas companies launch legal action against PNG Government

 A CONSORTIUM of international oil and gas companies has launched legal proceedings against the PNG Government over the proposed cancellation of one of the country’s most high-profile petroleum licences. Discussions between PNG Petroleum Minister Dr Fabian Pok and members of the PDL-10 licensees including global Spanish energy company Repsol (Operator), PNG national oil company, Kumul Petroleum, Horizon Oil and Osaka Gas, have fallen through with regard to the Minister’s notices

Australia to benefit from growing global gas demand

FORECASTS by the International Energy Agency (IEA) confirm that the global demand for natural gas will surge over the next 20 years, creating a phenomenal economic opportunity for Australia. APPEA Chief Executive Dr Malcolm Roberts said the IEA’s latest World Energy Outlook shows that a growing natural gas industry is an essential part of a cleaner energy future. “In the IEA’s New Policies scenario, demand for natural gas is expected

INPEX ships first LNG cargo from Ichthys LNG Project

INPEX CORPORATION has successfully shipped the first load of (LNG)  from Ichthys LNG Project at its onshore gas liquefaction plant in Darwin, Northern Territory. The first LNG shipment is destined for the INPEX-operated Naoetsu LNG terminal in Niigata Prefecture in Japan. “First cargo from Ichthys LNG is a historic moment for INPEX Japan and Australia.  It demonstrates our commitment to being a safe, reliable long-term energy supplier,” said INPEX President

Australia’s Calima to benefit from US$21.5 billion LNG Canada go-ahead

ASX-listed Calima Energy (ASX: CE1) has welcomed the news that a Shell-led JV has approved the go-ahead for the massive LNG Canada project at Kitimat. Calima, which is preparing to drill its first well in its Montney project area in Canada, is expected to see benefits from the billions in new infrastructure that will located near its assets, as well as a forecast increase in local gas and liquids pricing.

Timor-Leste to acquire interest in Greater Sunrise Fields from ConocoPhillips

THE Government of Timor-Leste and ConocoPhillips have reached agreement on terms for the sale of ConocoPhillips’ 30% interest in the Greater Sunrise Fields. The Prime Minister of Timor-Leste congratulated the Parties on successfully reaching an agreement, which benefits both Parties and is expected to allow Timor-Leste to proceed with discussions with the other Greater Sunrise Joint Venture members on future development of the Greater Sunrise resources. Timor-Leste’s Special Representative, Xanana

First condensate cargo from Ichthys departs

THE INPEX Corporation-led Ichthys LNG Project has achieved another milestone with the departure of its first shipment of condensate. The cargo departed from the roject’s massive offshore floating production, storage and offloading facility – the Ichthys Venturer –moored in the Browse Basin, some 220 kilometres off the northwest coast of Western Australia. “Departure of the first condensate cargo from the INPEX-operated Ichthys LNG Project demonstrates our commitment to be a